The global shoulder replacement device market size was significantly robust in 2022 and is expected to register a rapid revenue CAGR over the forecast period. Shoulder replacement device market revenue growth is primarily driven by the rise in shoulder replacement surgery globally.
Shoulder replacement surgery involves the surgical replacement of a joint with an artificial device. This surgery helps in removing damaged bone areas and replaces them with plastic or metal implants. These implants are available in various shapes and sizes depending upon their application. The surgical shoulder replacement can be partial or complete. Shoulder replacement devices are used in various conditions such as osteoarthritis, rotator cuff injuries, fractures, rheumatoid arthritis, and osteonecrosis.
Some of the factors supporting market growth
Drivers:
Increasing prevalence of various shoulder replacement surgeries and bone-related problems which increases the demand for a shoulder replacement device is one of the major factors restraining revenue growth of the shoulder replacement device market.
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An increase in the geriatric population with numerous bone problems such as arthritis and rise in various musculoskeletal disorders in the growing population which require surgery for shoulder replacement increase the demand for shoulder replacement devices and thus contributes to the market revenue growth of shoulder replacement devices.
Rise in the accidents and trauma incidences globally that require shoulder replacement drive the market revenue growth of shoulder replacement devices.
Technological advancements in the device used for shoulder replacement, and also an increase in the surgeries involving shoulder replacement supports revenue growth of the shoulder replacement device market.
Restraints:
High cost involved in the surgery for shoulder replacement and complications such as nerve injury, dislocation of the arm, and instability in joint post shoulder replacement surgery are the major factors restraining revenue growth of the shoulder replacement device market.
Opportunities:
Technological advancements in the device used for shoulder replacement and major key players in the shoulder replacement device market focusing on cost reduction of shoulder replacement devices resulting in the reduction of the overall cost required for the device application, improved healthcare facilities, and increased in government investment in healthcare domain will witness lucrative growth opportunities in the forecast period.
Geographic Market Scenario
Largest Market Share:
Among the regional market for shoulder replacement devices, North America emerged to be the largest with the highest revenue share. Revenue growth in North America is attributed to rising healthcare expenditure, increasing awareness, and rising incidence of bone-related problems in the region.
Fastest Growing Market:
Asia Pacific shoulder replacement device market is expected to register the fastest growth over the forecast period. The rising number of patients with bone-related problems, and government initiatives to promote awareness are some of the factors responsible for the market growth in the region. Also, the presence of a large population is one of the factors expected to positively impact the shoulder replacement device market growth ahead.
Key market trends and innovation
- Johnson & Johnson, in August 2021 introduced INHANCE shoulder system fully integrated shoulder arthroplasty system the first to the market.
Major Companies in the Market
- DJO LLC
- Integra LifeSciences
- Smith & Nephew
- Stryker
- Zimmer Biomet
- Arthrex
- Limacorporate S.p.A.
- ExaTech Inc.
- Braun SE
- Johnson & Johnson
- EQT AB
- KYOCERA
- Acumed LLC
- GlaxoSmithKline Plc
- Novartis AG
What Our Report Provides and Why Our Offering Is Better
This report offers historical data points, forecast, and revenue growth at a global regional & country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023-2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and revenue share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis.
Type Outlook (Revenue, USD Billion; 2023-2032)
- Anatomical shoulder prosthesis
- Reverse shoulder prosthesis
Product Outlook (Revenue, USD Billion; 2023-2032)
- Shoulder arthroplasty resurfacing implants
- Shoulder arthroplasty platform systems
- Shoulder arthroplasty trauma device
Procedure Outlook (Revenue, USD Billion; 2023-2032)
- Partial shoulder arthroplasty
- Total shoulder arthroplasty
- Revision shoulder arthroplasty
Application Outlook (Revenue, USD Billion; 2023-2032)
- Arthritis
- Accidents
- Trauma
- Musculoskeletal disorders
Age Outlook (Revenue, USD Billion; 2023-2032)
- Paediatrics
- Adults
- Geriatrics
Gender Outlook (Revenue, USD Billion; 2023-2032)
- Female
- Male
End-User Outlook (Revenue, USD Billion; 2023-2032)
- Hospital
- Ambulatory Surgical Centers (ASC)
- Specialty clinics
Distribution Channel Outlook (Revenue, USD Billion; 2023-2032)
- Offline
- Online
Regional Outlook (Revenue, USD Billion; 2023-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
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